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Welcome to visit SME Association of South Johor website

SMI Association of Malaysia - Group Multiple Benefit Scheme

 

Special Features

  • Maximum Coverage at Minimum Cost

  • Wider Scope of Benefits

  • Attractive Retirement (Maturity) Benefit

  • Attractive Withdrawal (Surrender) Benefit

  • Convenience and Safely of Premium Payment

  • Free-from-Underwriting during Special Promotion Period

  • Same Premium for all Age

  • Premium Paid are Eligible for Tax Relief

 

Death and Total Permanent Disability (due to natural causes)

  • If the Death / TPD occurs in the first two years of assurance due to pre-existing illness which was disclosed in the application form, only 50% is payable. Full Sum Assured will be paid if Death / TPD occurs after two years of assurance. However no benefit will be payable if Death / TPD is due to a pre-existing illness which was not disclosed.

Death and Total Permanent Disability (due to accidental)

  • The sum assured payable for Death / TPD would be double the amount of Death / TPD due to natural causes.

  • Other permanent pa partial disabilities will be payable according to the  schedule of Compensation as Per Master policy

Retirement Fund

  • The Accumulated Fund in accordance to the number of years of contribution in the scheme will be paid out.

  • If the member survived until age 65, maturity benefit will be paid out.

  • An attractive cash surrender value will be given to you if you decide to stop the policy after 12 months of coverage.

Funeral Expenses

  • RM 2000.00 will be paid out together with the death benefit.

Critical Ilness

  • The benefit will be payable once the doctor has confirmed that the member is contracted with one of the 36 critical illness.

  • This benefit is not payable for any critical illness which existed before the effective date and for illness which is first diagnosed in the first 60 days from the salary deduction date.

  • The protection for a member who has claimed this benefit will cease once it has been paid.

Eligibility and Participation

  • Members of The Association and spouse who are less than 55 years old can participate.

  • The member must participate to enable the spouse to participate.

  • Children are also allowed to participate subject to the terms and conditions of children participation.

  • The scheme can only be implemented provided there is a minimum of 500 participants at all time. The company reserves the right to terminate the participants at all time. The company reserves the right to terminate the scheme and give out the surrender value if the head count goes below 500.

General Exclusions

Death / TPD / Other Disabilities

  • Resulted from self inflicted injuries while sane or insane.

  • Sustained as a result of flight except as a fare paying passenger on a regularly scheduled flight.

  • Existed at / before the effective date.

  • Resulted from war, whether declared or not.

  • Resulted from provoked assault, drugs, motor racing, scuba diving, hunting.

Critical illness

  • Existed before the effective date of cover.

  • Diagnosed in the first 60 days from the salary deduction date.

Child Participation

  • Child can only participate if the legal spouse of the member participates.

  • For children participation, parents must apply for the youngest child first followed by the second youngest and so on.

  • Failure to follow the above conditions, no benefits shall be payable on any claims for the assured child and over will cease immediately with all received premiums (if any) refunded.

Children Claim

The amount payable for any claim shall be:

  • Where at entry, the child is aged 1 year old next birthday, the amount payable on Critical Illness / Death claim of the child shall be 20%, 40%, 60%, 80% and 100% of the sum assured in 1st to 5th year of assurance respectively.

  • Where at entry, the child is aged 2 years old next birthday, the amount payable on Critical Illness / Death claim of the child shall be 40%, 50%, 80% and 100% of the sum assured in 1st to the 4th year of assurance respectively.

  • Where at entry, the child is aged 3 to 5 years old next birthday, Critical Illness / Death benefit during the first 2 years of cover due to any disclosed pre-existing illness is only payable 50% of the Critical Illness / Death Sum Assured.

  • Where at entry, the child is aged 6 to 23 years old next birthday, Critical Illness / Death / TPD benefit during the first 2 years of cover due to any disclosed pre-existing illness is only payable 50% of the Critical Illness / Death / TPD Sum Assured.

  • TPD cover for children start at age 6 and above.

Important Note:

  • The information in this page is for illustration purposes only.
    The actual terms and conditions is contained in the Master Policy.

  • This applications is only valid for 6 months from the date of application.
    Please complete the proposal form quickly and properly to avoid any delay.

  • You are strongly advised to read and understand the benefits and exclusions
    under the master policy held by your association before signing this proposal form.

  • Please note that your assurance will only commence after:-
    i.  We have accepted the proposal and
    ii. The first salary deduction has been received.


     

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